MRC Allied bares venture into sand export business
As published on Manila Standard.
MRC Allied Inc. is diversifying into the sand export business this year even as it is set to continue expanding its energy portfolio.
The company signed a sale and purchase agreement with Shining Star Ningbo Import & Export Co. LTD. (Shining Star) over sand supply.
“Under the agreement, MRC will be delivering Shining Star a natural river sand in bulk... The contract will be effective for five years. The company will have a gross revenue of $760,000.00 per shipment,” MRC Allied said earlier.
For its energy portfolio, the company said it wanted to maintain focus on solar rooftop projects, an increasingly growing industry. Many businesses now realize the benefits of solar energy and utilizing rooftops for such solar panels.
MRC Allied also plans to tap opportunities on utility scale project developments, with projects under its umbrella such as the 50-megawatt solar project of Sulu Electric Power and Light Philippines Inc., the 100-MW SPI Clark solar and the 60-MW Naga solar.
MRC Allied was originally Makilala Rubber Co. that was transformed into a property development company in 1995 through its former president, businessman Benjamin Bitanga.
It has further expanded into mining in 2010 and renewable energy in recent years after Bitanga stepped down as president and chief executive officer in 2017.
MRC Allied president and chief executive officer Augusto Cosio Jr. is now leading the company’s new management team. The company is pursuing a new vision and roadmap consistent with the focus to become a major RE player.
Cosio said in a statement all the projects in the pipeline would transform MRC Allied into a bigger, bolder and future-ready company with investments in renewable energy.